Bitcoin is up approximately 7% to $69,500 Wednesday afternoon, helped by renewed ETF inflows and improving risk appetite. The move higher matters enormously for MicroStrategy, whose core analytics ...
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Strategy (MSTR) Stock Rockets On Bitcoin Comeback Rally
Benzinga02-26 03:04
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- Guavaxf3006·02-26 19:539.8% below it's 100 days average, plus being at near 52 weeks low, bears lot of attention. Yesterday's bounce, whilst impressive, also suggets how volatile this counter is. Just as easily as it goes up 9% in a session, so too the reverse can easily happen. Especially when you consider MSTR does not produce anything, has very small revenue from it's old legacy business, where the new owners have totally ignored and not invested in growing. Essentially, MSTR was taken over by Michael Saylor as a empty shell to issue and borrow from to gamble on price of Bitcoin rocketing to the moon. Very scary.LikeReport